Rosenblatt Securities Reiterates Buy Rating for Emerald (NYSE:EEX)

Emerald (NYSE:EEX)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a research report issued on Friday, Benzinga reports. They currently have a $8.40 price objective on the stock. Rosenblatt Securities’ target price indicates a potential upside of 82.61% from the stock’s previous close.

Emerald Stock Up 1.8 %

EEX opened at $4.60 on Friday. The stock has a market capitalization of $937.65 million, a price-to-earnings ratio of -6.13 and a beta of 1.36. The firm has a 50 day moving average price of $4.93 and a 200-day moving average price of $5.49. Emerald has a twelve month low of $4.00 and a twelve month high of $7.05. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.98.

Emerald (NYSE:EEX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.13. The business had revenue of $86.00 million during the quarter. Emerald had a net margin of 0.25% and a return on equity of 3.53%.

Institutional Investors Weigh In On Emerald

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Emerald by 0.5% in the first quarter. Vanguard Group Inc. now owns 1,113,221 shares of the company’s stock worth $7,581,000 after buying an additional 5,184 shares during the last quarter. Bank of New York Mellon Corp raised its position in Emerald by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 70,486 shares of the company’s stock worth $401,000 after acquiring an additional 3,950 shares during the period. FFT Wealth Management LLC purchased a new position in shares of Emerald during the 2nd quarter worth $532,000. Dimensional Fund Advisors LP lifted its position in Emerald by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 269,034 shares of the company’s stock valued at $1,531,000 after purchasing an additional 2,624 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Emerald by 9.0% during the 2nd quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock valued at $1,112,000 after acquiring an additional 16,200 shares during the period. Hedge funds and other institutional investors own 14.90% of the company’s stock.

About Emerald

Emerald Holding, Inc operates business-to-business (B2B) trade shows in the United States. The company provides B2B trade show franchises; and B2B print publications and digital media products, which provide industry specific business news and information across various sectors. It also offers B2B e-commerce and digital merchandising solutions to manufacturers and retailers through Elastic Suite and Bulletin platforms.